Alphabet Inc. (NASDAQ:GOOG) turns 20 years old

Alphabet Inc. (NASDAQ:GOOG) turns 20 years old

Alphabet Inc. (NASDAQ:GOOG) turns 20 years old

Alphabet Inc’s Google (NASDAQ:GOOG) is no longer a teen as the company turned 20 years old on September 4, a report by the Verge said.

It said no technology company is arguably more responsible for shaping the modern internet and modern life than Google. The company that started as a search engine now manages eight products with more than 1 billion users each, the report said.

Google’s stock fell 2.65% to US$1,155.09.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,216.81.

The projected lower bound is: 1,128.19.

The projected closing price is: 1,172.50.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 19.0326. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 37.43. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 28 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -164.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -15.040 at 1,171.440. Volume was 30% above average (neutral) and Bollinger Bands were 18% narrower than normal.

Open High Low Close Volume___
1,186.3001,186.3001,152.0001,171.440 1,888,467

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,216.05 1,200.37 1,111.70
Volatility: 24 24 29
Volume: 1,463,770 1,404,721 1,636,241

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

ALPHABET INC C is currently 5.4% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect moderate flows of volume out of GOOG.O (mildly bearish). Our trend forecasting oscillators are currently bearish on GOOG.O and have had this outlook for the last 10 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH